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26 November 2021, 11:55

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Even amid the pandemic, investment in fixed assets in the capital continues to grow.

Investments in the development of Moscow, despite COVID-19, will not be reduced. About it Sergei Sobyanin said in an interview with RIA Novosti. The city will not cut regional budgets, investments and social programs.

“If, when the economy falls, you start to reduce regional investments, then you find yourself in such a funnel, from which you cannot get out. And if, on the contrary, you inject additional investment resources into the economy, then you begin to spiral out of there. And after some time your investments will pay off handsomely, the economy starts to move forward. Therefore, we are not reducing investments either for renovation, or for the construction of the subway, or for the construction of roads, and even less for the arrangement of social facilities: schools, kindergartens, hospitals, ”said the Mayor of Moscow.

Even amid the pandemic, investment in fixed assets continued to grow. The number of housing under construction has also increased, and this is also investment, including in the improvement of the territory, the creation of new jobs, the construction of schools and kindergartens.

“This year we entered the borrowing market, borrowed. But despite the deficit, we will go through the next year without borrowing. Although such a possibility was included in the budget. And if the situation worsens, we are ready to borrow on the market, including on the market green bonds, Which is very fashionable today. In order to invest in environmentally friendly transport, electric buses, metro, commuter trains and so on, ”Sergei Sobyanin said.

The Moscow Mayor added that today the decline in international tourism is largely offset by interregional tourism. People continue to come to Moscow from other regions, which partially compensates for the losses in the economy of the hotel business, catering and the service sector.

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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